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    2990 Gulf Breeze Pkwy Gulf Breeze, FL 32563-3100
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    Property profile & analytics

    2990 Gulf Breeze Pkwy, Gulf Breeze, FL 32563-3100

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    • Office buildings
    • 8,937 SF
    • 0.69 lot acres
    Off-Market
    Property ID
    US18-3452317
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wild Thistle Therapy / Counselor / Mental Health Service
    • Momentum Church - Central Office / Church
    • Christina Ropp / Counselor / Psychologist
    • Momentum Church - Gulf Breeze / Church

    Property Details for 2990 Gulf Breeze Pkwy

    Year built
    2005
    Construction
    STEEL FRAME
    Lot size
    0.69 lot acres
    Zone code
    HCD
    Property type
    Office buildings
    APN
    30-2S-28-0000-00406-0000
    APU
    302S280000004060000

    Description

    This exceptional 9,230-square-foot Class A office and warehouse building is situated on 0.69 acres in the desirable Oriole Beach/Tiger Point area of Gulf Breeze, Florida (32563). Built in 2005 and renovated in 2014, this single-tenant property boasts a 25-foot ceiling height in the warehouse and offers ample parking with 25 spaces. The building features a 6,289-square-foot office suite, including 14 offices, administrative support stations, five restrooms, handwashing stations throughout, and a full kitchen and break room. A climate-controlled 2,941-square-foot warehouse with a 1,000-square-foot mezzanine provides additional versatile space. The property is zoned HCD and its location on the heavily trafficked Highway 98 corridor offers excellent visibility and accessibility. This turnkey property is ideal for a variety of professional businesses, benefiting from the area's high household wealth index of 176, exceeding the national average. The property is currently vacant and ready for immediate occupancy. APN: 30-2S-28-0000-00406-0000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $674,000
      Market price range: $616k - $1.26M
      AI Estimate
      $774,000
      Market price range: $500k - $1.84M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $960,000
      Current use
      WAREHOUSE, STORAGE
      $865,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gulf Breeze
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0995
    Latitude
    30.3856
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,316
    $192,600
    $435,630
    $628,230
    -
    $192,600
    $435,630
    $628,230

    Comparable in this City

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    • Value Estimation
      $685,000
      3,802 SF

      3473 Gulf Breeze Pkwy

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    • Value Estimation by Request
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      3036 Gulf Breeze Pkwy

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    • Value Estimation by Request
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      2900 Gulf Breeze Pkwy

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    Similar Nearby for Sale

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    • $1,275,000
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      Gulf Breeze Medical Office Building

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    • $259,000
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      Gulf Breeze Office Condo For Sale

      Prime Gulf Breeze location, 1188 sq ft office.
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    • $64,900
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      Vacant Lot in Gulf Breeze

      Build your dream home on this high and dry lot.
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    Similar Nearby for Lease

    • $15 SF/Yr
      1,750 SF

      Gulf Breeze Office/Warehouse Space

      Prime Gulf Breeze location, 1750 sq ft office/warehouse.
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    • $1,940 /Mo
      1,225 SF

      Gulf Breeze Office/Retail Space

      High-visibility Hwy 98 location, 1225 SF.
      4100-4110 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
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    • Contact for pricing

      Gulf Breeze Retail/Office Space

      Retail or office space for lease in Gulf Breeze, Florida.
      2560 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
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    • Contact for pricing
      837 SF

      Retail Space on Highway 98

      Retail space with high visibility and easy access.
      5080 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
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    • Contact for pricing
      2,591 SF

      Gulf Breeze Retail/Office Space

      Retail or office space with ample parking and high visibility.
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      View Details
    • $19 SF/Yr
      2,300 SF

      Gulf Breeze Parkway Office/Retail Space

      Prime Gulf Breeze location, 2300 sq ft, ample parking.
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    Gulf Breeze, FL 32563-3100
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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